Bitcoin Struggles to Break Above $6,400 as 100-Week Moving Average Holds as Resistance Level

Crypto investors have been celebrating as Bitcoin has been able to extend its upwards momentum as the cryptocurrency nears the $6,400 level, which is seen by many analysts as being a critical price point that must be broken above in order for the momentum to continue.

Bitcoin is now pushing up against its 100 Week MA-Major Resistance level, which one analyst believes may lead the cryptocurrency to surge significantly higher, assuming it is decisively broken above.

Bitcoin Taps $6,400, But Fails to Decisively Surge Higher

At the time of writing, Bitcoin is trading up 3.75% at its current price of $6,390, up from its daily lows of $6,100.

BTC is up significantly from its seven-day lows of roughly $5,600 which were set last Saturday, and the cryptocurrency’s bullish upwards momentum has led it to set fresh year-to-date highs at $6,430, just slightly higher than its current price. 

Much to the chagrin of Bitcoin’s bears and short sellers, all of this upwards…

Read Full Story : Ethereum World News

2019-05-10 23:11:07

Cole Petersen

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